In the fourth quarter of 2011, 22pc of businesses polled in the sector were
investing in social media marketing. This figure fell to 8.5pc in the first
quarter of 2012 and to 6pc by the second quarter. Pearlfinders, a major
business research company, spoke to more than 5,000 marketeers around the
world about their budgets.
“This represents an interesting about-turn. We saw investment in social media
increase steadily throughout 2011, to reach the highest levels ever by the
end of the year. However, as financial services brands embraced new methods
for communicating with customers, they opened themselves up to criticism and
negative sentiment,” said Anthony Cooper, Pearlfinders managing director.
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